05:55 PM EDT, 05/29/2024 (MT Newswires) -- Virgin Galactic Holdings ( SPCE ) said Wednesday it received a notice of noncompliance from the New York Stock Exchange because the average closing price of its shares failed to top $1 for a period of 30 straight trading days.

To regain compliance with the continued listing requirement, the company said it will seek shareholder approval at its June 12 annual meeting to complete a reverse stock split.

Virgin Galactic ( SPCE ) said it has six months to meet the NYSE listing requirement.

Price: 0.9660, Change: +0.01, Percent Change: +1.53